India needs Rs 3.61 lakh crores investment for housing sector The government on Wednesday said the country needs investment to the tune of Rs. 3,61,000 crore to meet the shortage of nearly 25 million housing units. “There was approximately housing shortage of 24.7 million dwelling units at the beginning of the 11th Five year plan... The investment requirements would be to the tune of Rs 3,61,000 crore for overcoming this massive housing shortage,” Minister of State for Urban Development Saugata Roy said at the CII real estate concave here. Of the total housing requirement, about 99 per cent is constituted by the economically weaker section and the low income groups, he added. “The massive urbanisation in the past few decades has led to severe housing shortage for the urban poor... providing affordable housing is one of the most formidable challenges that our country faces today,” Mr. Roy said. He said availability of land at cheap rates is the greatest challenge in providing affordable housing in the country. Measures like increasing density by hiking the floor-area ratio and encouraging public-private partnership should be considered in fulfilling the housing need of the country. “The government has sought to create an enabling and supportive environment for expanding credit flow to the housing sector and increasing home ownership in the country,” Mr. Roy said. source : The Hindu
Yes, India needs investment in the housing sector. At the same time India also needs more regulations in the housing sector. The price of property is too high in India, beyond the imagination of common man. Even in USA, a person can buy house at USD 100000. ( approx Rs. 45 lacs) We need to pay the same amount or more than this in India.
investment for housing sector in India That is true that most of urban poor people have housing problems and definitely getting land and building projects needs investment. But these investments right now can be more beneficial for people who are rich and just need projects to put their money into circulation. However, for common man, it is very difficult to invest, when after all these tremendous price hikes and endless lists of taxes, he has very little amount to manage his household means. Indian Government should stop spending money in fancy infrastructure and garlands and use that same money for betterment of proud Indian citizens.
i think government must seriously take initiatives for investing into housing sector. people are facing lot of troubles due to rising prices of housing. it has become a dream for a common man to think of owning a home in a city of india. the prices are too high and beyond the reach of common man. government is investing in areas which are futile.
government is keeping its hands away from the housing sector, but the private sector is taking up this section as there is huge money in it. if the government takes a stand and pledges to build homes for all categories of people, homes would be much cheaper as there would be no private companies involved which make huge money.
Investment in the housing sector is important and necessary as to meet the requirement of the housing society in the nation. many people rely on government for the housing facility and it is the duty of the government to provide them with the proper housing facility. So the regulation and maintainance of the housing sector is nearly important.
In my view if the government takes up the investment of housing sector it would give a huge relief to the common man because due to intervention of private sector the real estate prices have gone very high beyond the reach of common man. If government plans to introduce different housing schemes for various classes of people, there could be some hopes for common man to have their own homes.
